Bankers, Hug Your Customers: A Guide to Every Banker to Delight Customers, Employees, and Colleagues

By Syed Hussain

This book is a valuable possession not only for those in the service of Bank, but also for those in business in general. The author has brought into limelight the much needed aspect of banking which is often ignored in the present set up. Many simple and practical tips are given to the bankers which can result in rich dividends.

Written in a personal narrative style, the book is easy and pleasurable to read and understand.

Mr. S.V. Hussain has to be commended for illuminating the readers in the area of customer service of Banks.

Dr. B.A. PRABHAKAR BABU, Professor in Phonetics & Spoken English (Retd)

English & Foreign Languages University, Hyderabad, Andhra Pradesh.

• Language: English
• Publisher: Partridge Publishing India
• Release date: Jan 13, 2016
• ISBN: 9781482869750

Syed Hussain

Dr. S. V. Hussain worked as Branch Manager at eight Branches for nearly two decades. He was a debater during his college days and represented A P Agricultural University twice at inter university debating competitions. He was awarded by Bank, State Government and Community based Organizations for his excellent work. He is highly respected and loved by his customers, employees and colleagues.

Book preview

Copyright © 2016 by Syed Hussain.

ISBN:      Softcover   978-1-4828-6976-7

                eBook       978-1-4828-6975-0

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

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CONTENTS

Preface

Acknowledgements

Chapter 1 Passion for Hugging

Chapter 2 Customer Service

Chapter 3 Hug Your Employees

Chapter 4 Hugging Experiences

Chapter 5 Creating A Hugging Culture

Chapter 6 Celebration and Recognition Help

Chapter 7 House Keeping

Chapter 8 Hug Senior Citizen

Chapter 9 Marketing

Chapter 10 Telephone Hug

Chapter 11 Complaints

Tips to Hug

Bibliography

This book is

dedicated to

The memory of my beloved parents for teaching me human values,

My wife Asif, Nawab’s daughter who came to live with a humble man like me,

Mehnaaz (daughter) and Naser (son) my pride and delight.

Preface

Everybody talks about customer service and it has been in sharp focus for the last so many years. But do we get good customer service anywhere including banks? Yes, we do get, but occasionally. In the post liberalization era after 1991 and of course with the entry of private and foreign banks, there is some improvement. The private and foreign banks initially impressed the customer with the introduction of speed of service and technology but in the long run failed to win their absolute trust. Public sector banks initially were under awe and shock from these entities and then took a leap stride in the introduction of technology. Particularly SBI, the largest commercial bank of the country not only outpaced the competitors in the introduction of technology but also won the trust of the customers.

Trust is the key variable in banking sector. Conservatism and proper assessment in identifying the needs and repaying capacity of the borrowers have helped public sector banks in retaining the trust of the customers. Many banks in the USA including the largest financial firm Lehman brothers collapsed due to improper assessment of the borrowers. In the words of Ms Beth Payne, US counsel- General to India India has weathered the economic storm better than most because of its sound banking sector.

Once the customers repose their trust, it’s imperative for the banks to reward them with excellent customer service. It is not surprising to see long queues in the banks even after the introduction of high end technology products like ATMs, internet banking and phone banking. The reason is economy still is cash based. It will take some more time for the Indian economy to move from cash to plastic money.

The rise in Indian economy has led to consumerism. Having got the luxury of different alternatives or choices of product and services— today’s customer expects more and better services. Interestingly banks in India offer near identical products to the customers. Surveys and experience have shown that customers are deeply unhappy with service levels.

It is time now to move on to charismatic customer service to retain and improve customer loyalty. During my tenure as Branch Manager of eight branches in two states (A.P & W.B) I had many happy incidents of customer service. Experience itself is education and I felt the need to share with you how to hug customers to build customer loyalty and retention.

Fortunately the banks have an advantage over other corporate companies. Most of the bank branches are just like small stores. Each bank branch has on an average 5000 to 10000 customers. Pareto’s principle says 80% of the business comes from 20% of the customers. Generally the Staff and the Manager know most of their customers personally and they have a broader idea of the customer’s value and perception. Many of the staff members have close intimacy with frequent buyers of the services and products. Branches can afford to give time and attention to the customer and lay a foundation of excellent customer service.

The staff personally knows whether Mrs. Susan is a big depositor or a high ticket borrower. This will help the staff to give personalized service to their valuable customer. When it comes to customer service, we have no choice. We have to either improve it or lose the race of winning customers. Customer service is an art that takes time and effort to master.

The purpose of this book is to provide bankers the foundation to achieve great success in attracting, retaining and delighting the customers. I am not promising any amazing techniques here but simple and honest approach to win the customer for life. Dip in this book from time to time to recharge yourself in adopting some of the workable techniques of customer service. I am sure this book will stimulate you to hug your customers frequently and improve your business. A hugged customer will stay with you through thick and thin

Acknowledgements

I would like to thank all those colleagues who worked with me in branches and offices of the bank who influenced my ideas in writing this book. I would like to thank ex-Principal of State Bank Institute of Rural Development and the present Chief General Manager of Bhopal Circle Shri M.Bhagavant Rao for his exuberance and generosity in encouraging me in the initial stages of writing this book. He not only read a few manuscripts but also used his pen wherever necessary. I am highly indebted for his support and encouragement. My special thanks to Dr. K.R.S.Nair, Assistant General Manager and faculty of SBIRD using his surgical intervention and linguistic prowess to transform my manuscripts into something more readable than I could have accomplished on my own. I am especially grateful to Dr. B.A. Prabhakar Babu, Professor of phonetics, University of English and foreign languages and a long time friend for sparing his precious time to dust-off the flaws from the manuscripts. I immensely thank him, for his timely help. I was delighted when Mrs. Linda Prabhakar Babu, a geologist, told me that while reviewing the chapters he read some portions to her.

In addition, I want to thank my Vice Principal Shri.M.M Shaik, colleague faculties of SBIRD and particularly Smt.M.Jayshree Reddy, Assistant General Manager for her timely sixth sense advise. My immediate boss at Kolkata Mrs. Sibani Mallik, Assistant General Manager was a constant source of guidance, constructive feedback and support. I am grateful to the system Managers Mr.D.S.N.Murthy and M.Seshagiri for their assistance.

I thank Mrs. S.B.Singh Chief. Manager, Faculty SBLC Dehradun and Mr. K. Raghunandan, Assistant General Manager, SBIRD for graciously willing to help and filling the dents in the manuscripts. Mrs.S.B.Singh generous comments at the end of some of the manuscripts, she reviewed, kept me going. Some of her comments that touched my heart were uproariously hilarious and hugely readable.

1

Passion for Hugging

What is hugging? Any simple pleasing gesture is called hugging. It could be as simple as a smile or greeting customer by name. If you want to stand out in the crowd, you have to repeatedly impress your competitors in many ways that your competitors do not. Every time you hug your customer you have improved your competitiveness in the market. To be ahead from the rest of the pack in marketing you have to develop strategies in winning and retaining the customer. Do little things better and do them often that customers notice like pulling a chair for the customer, walking with him to the exit door, offering a cup of tea and many such things.

Your name should stick in the customer’s mind like a song that won’t go away. Whenever a customer thinks about banking, your bank’s image should strike his mind. Never in the history of banking has the need been greater for nurturing and creating strong relationships.

Passionless relationship

Incidentally my wife has got an account with a bank close to our home for the past fifteen years and never had she received any communication except a notice for non payment of locker rent. We all experience the same, passionless relationship from banks, hospitals, municipal office and school of our kids.

Hugging is to get closer to customer so that you become a friend and a confidante. Hugging should come from the bottom of heart; it should be real and sincere. When we are courteous, polite and well mannered with customers, they tell others. There is certainly a big payoff in being polite. Treat the customers the way you treat your parents, spouse, kids and friends. Take care of customers, they will come back and also bring their friends. We just don’t want to deal with somebody just once but we want his business for ever. To create, sustain, and manage beneficial relationship, hugging the customer is indispensable. Hugging is a binding force between two parties.

When most customers are opting for electronic banking there are fewer opportunities for bankers and customers to interact. But if hugging is a passion in your functioning, customers will come to derive pleasure in doing business with you. They will personally visit your branch the way they visit a friend.

Hugging is team work

Hugging should be done at every level and frequently. Hugging at the branch is team work. Every employee should be geared to hug the customer. Hugging should begin as soon as the customer enters branch. Every employee of the branch should greet the customer with a smile; it starts from the watchman who stands at the entrance, the messenger in the banking hall, the front line staff, accountant and the manager. The strength of any organization lies in its employees and their attitude. Hugging should be embraced at all levels and it should be demonstrated with passion.

If a customer is hugged, he will ignore our mistakes. It is just like our savings bank account, hugging goes in credit and mistakes in debit.